Business
Erdene Resource Continues to Outline Ulaan Feeder Zone, Intersects 27 Metres of 3.5 g/t Gold, Including 2 Metres of 24.9 g/t Gold
HALIFAX, Nova Scotia, July 26, 2022 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX: ERD | MSE: ERDN) (“Erdene” or the “Company”) is pleased to
About this update from Erdene Resource Development Corporation
[{"type":"text","content":" HALIFAX, Nova Scotia, July 26, 2022 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX: ERD | MSE: ERDN) (“Erdene” or the “Company”) is pleased to announce final results from the Q2 2022 drill program at Ulaan Southeast (“Ulaan SE”), located 300 metres west of the construction ready Bayan Khundii Gold Project in southwest Mongolia. This program expanded known mineralization at the Ulaan SE discovery to the west and at depth, and intersected an interpreted high-grade, gold bearing “feeder” structure. Follow-up exploration at Ulaan SE is currently underway. Highlights UDH-53 returned high-grade mineralization within a projected feeder zone, including 2 metres of 24.9 g/t gold within 27 metres of 3.47 g/t gold UDH-52, 60 metres SSE of UDH-53, intersected a wide zone of mineralization – 189 metres averaging 0.8 g/t gold Mineralization at Ulaan SE has been traced over a 200 metre strike, to a depth of 450 metres, that remains open to the west and at depth; highlights of Q2 drilling include: UDH-35 included the highest average grade intersection to date at Ulaan SE Intersected 23 metres of 13.7 g/t gold within 41 metres of 8.1 g/t gold, beginning 187 metres downhole UDH-21, including the hole extension, returned one of the thickest gold zones in the Khundii District Intersected 335 metres of 1.1 g/t gold, beginning 115 metres downhole, ending in mineralization Includes 27 metres of 8.7 g/t gold, within 77 metres of 3.2 g/t gold UDH-36 intersected 179 metres of 1.2 g/t gold, beginning 72 metres downhole Includes several one-metre, high-grade intersections, ranging from 10-33 g/t gold, and ending in mineralization at 350 metres Quotes from the Company “Ulaan drilling has returned very high grade zones in the feeder structure as well as exceptionally thick zones of mineralization, exceeding 300 metres, which remain open, in the core of the discovery,” said Peter Akerley, Erdene’s President and CEO. “This newest Khundii District discovery is interpreted as the western extension of the Bayan Khundii deposit, demonstrating the resource expansion potential from deeper exploration in the District.” “In the past week, we launched a follow-up exploration program. The outcome of this program, as well as the results from the recently completed regional reverse-circulation (“RC”) program, will focus our exploration work for the bala...